##### "City Bank" will open an office in Baghdad and al-Maliki inviting them to more effectiveness in the Iraqi market

[ltr]"City Bank" will open an office in Baghdad and al-Maliki inviting them to more effectiveness in the Iraqi market[/ltr]

	24/06/2013 - 16:45		|
	Author: Safaa Abdel-Hamid

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		[ltr]Alsumaria News / Baghdad Prime Minister Nuri al-Maliki, on Monday, the company "City Bank" to participate actively and effectively in the Iraqi market after the opening of an office in Baghdad, while the company confirmed its intention to participate in the development of Iraq and the advancement of its economy. A statement issued by Prime Minister's Office following a meeting with the President of the company "City Bank" Dance Avlanery, today, and received "Alsumaria News," a copy of it, that Avlanery "announced the opening of an office for the company in Baghdad," adding that "al-Maliki called the head of the company to more active participation and effectiveness of the bank in the Iraqi market. " Maliki confirmed, according to the statement, that "Iraq plans to double its production of oil, gas and do a comprehensive reform of the economy so as to enhance its resources and makes it more versatile," noting that increased resources will be reflected in other economic sectors in agriculture, industry, tourism, services and others. " For his part, the president of the company said that "We are determined to be partners in the development of Iraq and سنساعده in the advancement of its economy," he said, adding that "there are many international companies willing to invest in Iraq, and we will be supportive of her." The Avlanery pointed out that "the opening of the company's branch in Baghdad would be a prelude to open a branch shall be managed by the banking activities in Iraq." Iraq is seeking to attract international companies to invest in the industrial and commercial sectors, banking and others, but was having difficulty because of the failure of most companies to work there as a result of the deterioration of the conditions of security and fear of those companies on their staff from exposure to insurgent attacks. [/ltr] http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.4.hathalyoum.net/iraqnews.php%3Faction%3Dsit%26cd%3D0%26sid%3D237317&usg=ALkJrhhH2UqmhaLfCm67HhXrtLpYc1dsEw

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[ltr]The opening of the first branch of the Bank of American in Iraq [/ltr]


[ltr]Author: HAA
Editor: OK
24/06/2013 11:24 [/ltr]


[ltr]Range Press / Baghdad[/ltr]
[ltr]Citigroup, Bank announced Citigroup Alamerreqi the banking services, on Monday, to open an office in Baghdad to become the first U.S. bank to expand its services to include Iraq, betting in this his move on the long-term economic opportunities in the oil-rich country.[/ltr]


[ltr]The bank said Citigroup Citigroup said in a statement quoted by the British newspaper Financial Times and seen, (Presse term), he said that "the bank will open on Monday, his first formal office in the capital Baghdad after receiving the initial approvals from the Central Bank of Iraq."[/ltr]


[ltr]The newspaper quoted the Executive Director of Citigroup bank in Europe, the Middle East and Africa, James Collis as saying, "Iraq is an important market with an economy enjoys a great future capabilities over time."[/ltr]


[ltr]He said the bank in accordance with the statement that "Dennis Flannery former financial attaché of the U.S. Embassy in Baghdad, who ran the Office of the City Bank for the interests of Iraq in Amman since its inception two years ago, will be chaired by the Office of Baghdad."[/ltr]


[ltr]The bank continued that "there are plans to open two additional offices in Erbil and Basra to provide services to customers within the bank banking activities," pointing out that "This step constitutes the first commercial activity to the U.S. bank Citigroup in a new country six years ago,"[/ltr]


[ltr]He said the bank in a statement, "Over the past decade used the bank to fund investors and major companies operating in Iraq by giving them funding commercial banking services and cash and investment management through its branches regional in Dubai and the Office of Iraq in Amman and the ways of its branch in London."[/ltr]


[ltr]The bank said that "this step comes for the establishment of a physical presence in the Iraqi market in conjunction with the aspiration of major oil companies, industry and construction to invest in Iraq."[/ltr]


[ltr]According to analysts, economists guesses in a U.S. bank Citigroup, "the expansion of the growth of the oil sector in the country would turn Iraq into one of the largest oil exporter in the world over the next decade and economic power is estimated at $ 2 trillion by the year 2050."[/ltr]


[ltr]And operates banks Citigroup in the Middle East for almost 50 years and offers banking services in 11 countries, including the United Arab Emirates, Egypt, Kuwait, and also offers business services banker to consumers in the United Arab Emirates, Egypt, Bahrain and Pakistan, which is one of the banks of the four that will help the government of Dubai in the collection $ 800 million to finance powered by the collection of tolls on the roads in the future.[/ltr]




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[ltr]Citigroup to open an office in Iraq[/ltr]
[ltr]Published in: 2:09 pm, June 24, 2013 Editor: ipa 2[/ltr]
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[ltr]BAGHDAD (Iba) .. Said Citigroup said on Monday that the Central Bank of Iraq and agreed to the opening of a representative office to become one of the first international banks operating in Iraq since the US-led invasion in 2003.[/ltr]


[ltr]The group said it will open office in Baghdad and also hopes to work in Erbil and Basra after the approval of the regulatory bodies.[/ltr]


[ltr]Since last year, Gulf banks opened offices in Iraq, including Abu Dhabi Islamic Bank and National Bank of Qatar and no representation office for Standard Chartered bank is looking to open branches practiced all the activities this year.[/ltr]


[ltr]In April, Bank said. S. BBC. Website that works in Iraq through a 70 percent stake in Dar es Salaam Investment Bank was being a review of its activities in the country. The bank did not elaborate but it is currently working on reducing its activities around the world.[/ltr]


[ltr]Said James Coles, chief executive of Citigroup in Europe, the Middle East and African CFA said in a statement that the bank's presence in Iraq will help him on the design of the Iraqi client services and to provide opportunities for Citigroup customers outside the country to strengthen relations with Iraq.[/ltr]


[ltr]The representative office will be headed by Dennis Flannery, who ran the Iraqi part of the activities of Amman in Jordan. (End)[/ltr]








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